The Connecticut Association of REALTORS®, Inc. presents the 27th Annual REALTORS® at the Capitol event on April 6, 2011.  The registration deadline is March 23^rd to get the confirmation packet.  

For over 26 years, Connecticut REALTORS® have been coming together to meet with State Senators and Representatives to let them know our views on the issues that affect our business. Having a significant size group at this event will make a difference. Your participation will help show the Legislators that our views are important and we need to be heard.

Plus! Five lucky RAC attendees will each win a $200 American Express Gift Card! You must be present at the orientation session at The Bushnell to win!

Check out http://www.ctrealtor.com/rac/ for more info!

Speaking at CAR’s Designated REALTORS® meeting on March 10, William Rubenstein said revisions to the Connecticut Property Condition Disclosure form will be acted on very soon. He recognized the input and recommendations provided by CAR at a public hearing last November. CAR speakers had offered constructive suggestions on how to modernize the Connecticut form and simultaneously comply with new legislation. He said the public will be re-noticed, allowing a short period for additional comment before the revisions go to the Attorney General and Regulations Review Committee.  New rules could be in effect by early summer according to Rubenstein. 

In a related matter, Senate Bill No. 1131 would deny sellers the “unknown” response to a variety of residential property conditions inquiries, leaving only a strict “yes” or “no” check-off for affirming knowledge of any problems. Rubenstein opposes this. “Certainly it is fair for a property owner to ‘not know’ some things about the state of a specific system or building component,” he said. He also mentioned a point CAR has stressed for years that if Connecticut’s property condition disclosure form is made too difficult or impractical, sellers may choose to pay a $300 fine and opt-out of the process entirely.

CHFA is offering an exciting new statewide home purchase mortgage program designed to support neighborhood stabilization and community investment. By providing first mortgage financing, the Homeowner’s Equity Recovery Opportunity (HERO) Expansion Loan Program encourages first-time homebuyers and existing homeowners to purchase and/or rehabilitate foreclosed or abandoned properties.  The innovative HERO program features a 30 year, fixed rate mortgage and is available exclusively through the Connecticut Housing Finance Authority (CHFA). For more info click here.

Plans are underway for the 11th Annual Gates Scholarship Auction/Luncheon which will be held on Tuesday, April 26th at the Holiday Inn, North Haven (immediately following the CAR BOD meeting).  We are presently seeking donations and items to include in the auction.  Click here for further details and to make a donation. 

Did you know that over the past 34 years the Raymond F. Gates, Jr. Scholarship Fund has provided over $630,000 in scholarships to the children of REALTORS®?  Last year alone, 50 children of REALTORS® received $50,000 in scholarships to assist them in their pursuit of higher education.  But we are limited to awarding what is received in donations and interest earned on the fund each year…so please consider contributing to this worthwhile cause. 

Raymond F. Gates, Jr. Memorial Scholarship applications are now available! Children of REALTORS®, REALTOR-ASSOCIATES®, Local Board/Association Staff and CAR staff members are eligible to apply. Click here to download an application package from the “Special Programs” area of our website. Username and password are required. Applications not complete or received by the Friday, May 20 deadline will not be considered. For more information, contact Brett Moody moodyb@ctrealtor.com at 860-290-6601, ext. 308.

Are you interested in serving on a National Association of REALTORS® Committee in 2012? The Committee Recommendation Database on REALTOR.org is now open! To get started, you must complete an expertise profile. Then you need to submit a recommendation or request. You will need your REALTOR®.org login and password. The deadline for submitting Committee recommendations/requests is Wednesday, May 25, 2011.

Presented by the Internal Revenue Service Tuesday March 29, 2011. Learn the basics about reporting profit or loss from a business or profession, self employment tax and estimated tax payments, schedule C and C-EZ, deducting business expenses, husband and wife businesses, and recordkeeping. To register and for more details check here.

If you answered “yes” to these three questions, be on the lookout for CAR’s Legal Department’s QUIZ QUESTIONS. There will be a new question every two weeks, all correct answers will go into a hat and the lucky name drawn wins a $25 restaurant.com gift card. Where’s the QUIZ QUESTION? It’s on CAR’s home page at http://www.ctrealtor.com/ under “The Latest From CAR”.

CONGRATULATIONS to Don Fabriozio-Garcia, last week’s winner! Every two weeks, all correct answers will go into a hat and the lucky name drawn wins a $25 restaurant.com gift card. So, if you want to prove you’re smart and lucky and want to eat out for less, CHECK THIS OUT.

The Real Estate commission has noted an increase in the number of salespeople who did not renew their licenses but who continue to practice real estate. Some of these salespeople are under the mistaken impression that there is a “grace period" to pay the renewal fee. There is no such thing. A salesperson’s license that is not renewed by May 31st, with the fee paid, has no license and may not continue to engage in the real estate business. A license may be reinstated without the necessity of taking principles and practices and passing an exam if the reinstatement is performed, and this includes paying all back renewal fees, within 2 years of the date the license expired. Brokers are reminded that they are responsible for the unlicensed practice of their salespeople and the Real Estate Commission will fine brokers who have unlicensed salespersons working for them. For further information please contact CAR’s General Counsel Eugene Marconi at (860) 290-6601 or (800) 335-4862, or marconie@ctrealtor.com.

On April 12, 2011 Eugene Marconi, CAR’s General Counsel, will be participating in a session to help explain the terms of the new state laws implementing the S.A.F.E. Act (The Secure and Fair Enforcement for Mortgage Licensing Act of 2008). To learn more about the session or to register click here.

With melting snow, warmer temperatures and budding trees, now’s the time to do some spring cleaning of your own. Throw away the misconceptions that short sales are impossible. Organize your plan of attack on foreclosures.  Fertilize your awareness and gain a competitive advantage that few agents have. Yes, it’s time to clean up those Short Sale & Foreclosure transactions! Register for the Home Affordable Foreclosure Alternatives (HAFA) Short Sales course scheduled for April 5^th at the Mid Fairfield County Association office in Westport. Stop struggling with these transactions and learn the differences in the HAFA programs PLUS satisfy 3 hours elective CE credit for license renewal. 

Our next HAFA class is scheduled for October 26^th in Old Saybrook co-sponsored by the Midd-Shore Association. 

Sign up for either class by clicking here or download the course registration by clicking here.  Email Abby Krist with any questions or call 860-290-6601 x317.

• REALTORS® at the Capitol! It’s Getting Closer! April 6th, 2011! 
• DCP Commissioner weighs in on Seller’s Property Condition
• Homeowner’s Equity Recovery Opportunity (HERO) Expansion Loan Program 
• Gates Scholarship Auction/Luncheon
• Gates Scholarship Applications 
• 2012 NAR Committees
• IRS Webinar: Business Taxes for the Self-Employed: The Basics 
• Are You a Gamer? Think You’re Smarter than Your Fellow REALTORS®? Want to Eat Out for Less? 
• Did You Remember to Renew your License? 
• New England Land Title Association is Holding a S.A.F.E Act Seminar 
• Spring Cleaning for Your Mind 
• Hotsheet Legal Tip
• Member Benefits

Disclosure Regarding Water in Seller’s Basement

Did your seller’s basement experience flooding this spring? Do you know what your disclosure obligations are? Do you know what to say to your seller about disclosing the water intrusion when he doesn’t want it disclosed? What should you tell your buyer? Click here for the answers to these questions.

Also check out CAR Legal on twitter at http://twitter.com/CTRealtorsLegal 

Featured Benefits:

Need an Oil Change?

CAR members and their families can experience the Jiffy Lube Signature Service Oil Change^® and receive a 10% discount on all products & services nationwide. Click here to find a location near you or visit http://www.jiffylube.com/ for more information on all Jiffy Lube services. Mention "Connecticut Association of REALTORS® Fleet Discount" or PROMO CODE 11767598 to take advantage of this offer. 

“Thank You” to Bearingstar Who Recently Sponsored CAR’s Designated REALTOR® Meeting!

If you are looking to save money on your home or auto insurance, call Bearingstar today at 860-682-3333 and see how you can receive up to 30% off auto and home insurance*.   

Bearingstar will also donate $25 to CAR’s Foundation for each auto or home quote generated. There is no obligation to purchase a policy.  Just obtaining a completed, accurate quote generates a donation, no commitment necessary! 

Contact Bearingstar to take advantage of this unique offer, save money and help support the CT Association of REALTORS® Foundation, Inc.   

*Basic group discount of 10% is doubled to 20% with a combined auto & home quote request, and tripled to 30% when combined with Arbella’s incident free credit.

 111 Founders Plaza, Suite 1101
East Hartford, CT 06108
1-800-335-4862
Fax: 860-290-6615
www.ctrealtor.com

 Change my email address!